Our aim is to provide you with clarity regarding your legal expenses and other costs in the beginning so you can properly budget for your purchase. Moving is stressful enough without finding out on closing that the costs are higher than anticipated.
The variance in legal costs from law firm to law firm is actually fairly small and our legal costs are competitive with other law firms. Give us a call at (613) 746-8115 and we will be pleased to provide you with both the total legal costs (fees, all expenses and HST) as well as a breakdown so you can properly budget for your purchase and avoid nasty surprises on closing.
Land Transfer Tax is a provincial tax that is applicable on the purchase price of the property.
|$55k – $250k||1% of price – $275 = LTT|
|$250k to $400k||1.5% of price – $1 525 = LTT|
|over $400k||2% of price – $3 525 = LTT|
First Time Buyers are eligible for a rebate (reduction) of up to $4,000. There is a great deal of misunderstanding as to who qualifies as a “First Time Buyer”. To qualify:
In some cases (eg. unmarried or common law couples), one buyer qualifies for a rebate and the other does not. Partial rebates apply in those cases.